Low-Tech Ways To Save Cash

(CBS) – They are really low-tech ways to save more than $1,000 every year.

CBS 2 Cost Cutter Dorothy Tucker has three new twists on the old-fashioned coin jar.

A nickel here, a quarter there – over time, spare change and cash gifts can become thousands.

It did for Carmen Fields and her daughter.

"When she graduated from college the account was nearly $30,000," Fields says.

Another old-school trick: the Mason Jar Method.

The first week drop just one dollar in the jar. Week two – two dollars. Add an extra dollar every week, and by the end of the year you'll have saved $1,378.

Toyya Cole made a promise to herself: Slip a five dollar bill into her savings box every time she gets one back in change.

"I've saved $265 in four months," she says.

To make your savings really pay off, every so often invest it into an account that earns at least 1 percent interest.